The Ministry of Trade, Industry & Energy of South Korea announced that it would send an on-site inspection team to Ethiopia. The team, which is scheduled to stay in Ethiopia from June 19 to 25, includes personnel from the ministry, the Korea Electric Power Corporation, the Korea Electric Power Research Institute, the Korea Energy Management Corporation and the Korea New & Renewable Energy Center.
The purpose of the team is to come up with a business model before setting up a local town that is self-sufficient in terms of energy. Specifically, power is to be produced in an environmentally friendly way by means of solar power, wind power and the like and then be stored and distributed by the use of energy storage systems and micro grids.
Ethiopia has posted a high annual economic growth rate of 6% to 11% for the past 10 years. Nevertheless, its power and water shortage is still chronic. Recently, a severe drought hit the country to exacerbate the problem.
“Once the project is completed, it becomes possible for the African country to do farming in a stably way by developing agricultural water with electricity,” the ministry explained, adding, “Then, the living standards of the people will be improved along with their income.” [Business Korea]